Wednesday, December 29, 2010

One of the best run state agency in Malaysia is Johor Corporation whose executive chairman is MOhd Ali Hashim.

Under Ali, Johor Corp have expanded well with the acquisition of KFC,PIZZA HUT, QSR and Damansara Realty. Beside this,he also bulid up oil palm giant Kulim Bhd and Kumpulan Perubatan Johor (KPJ) which have Ampang Puteri and Tawakal hospitals in its stable.

All the above companies are making good profits every year especially KFC which is a CASH RICH and PROFITABLE company.

In October 2010, during a board meeting,ALI resign immediately on a 24 hour notice because he does not see eye to eye with Johor MB Ghani Othman who is the chairman of Johor Corp. Ghani contention is that Johor Corp debts of RM 6 Billion is too much but Ali contention is that Johor Corp have good assets worth RM 12 Billion to cover the debts.

In my opinion, it is not an issue if a company take on debts to acquire cash rich profitable companies like KFC especially when KULIM BHD is able to service the loan due to good oil palm prices.

The main problem is no the debts but with UMNO NOT BEING ABLE TO TOUCH THE MONEY IN JOHOR CORP AS LONG AS ALI IS AROUND.

Since the days of DR M, UMNO DOES NOT LIKE GOOD,COMPETENT and NO NONSENSE professional managers like ALI and HASSAN MERICAN who does not allow politicians from UMNO in meddling with the business affairs of Johor Corp and PETRONAS.

Therefore, the only way for UMNO to TOUCH THE CASH of KFC and PETRONAS is to REMOVE ALI and HASSAN who does not get along with PM Najib.

If you compare Johor Corp and Petronas with Khazanah Nasional,ALI and HASSAN will beat AMOKH hands down.Just look at the debts of Khazanah which borrow money to buy unprofitable companies.

That is why the country is going downwards as GOOD people are REMOVE not for business but for political reasons. Hassan is currently working for SINGAPORE SEMBAWANG.

As for ALI,WELL DONE and have a deserving peaceful life.

Happy New year to ALI,HASSAN and all my relatives and friends and MAY 2011 WILL BE A GOOD YAER FOR MALAYSIA.